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Jen Saarbach of The Wall Street Skinny opened on the one price that moved while Meta's stock fell 6%: its five-year credit default swaps, which Markit and ICE both put at a record on Wednesday, in a range of roughly 114 to 119 basis points against about 50 a year ago. Meta beat on revenue, up 26% to $65 billion, and still posted its first negative free cash flow quarter as operating margins halved. Kristen Kelly explains the new third share class. Then Tesla, where two chief investment officers read the capex cut as merger preparation, pending home sales at a 25-year low, and Airbnb banning the checkout chore list.
Featuring
Jen Saarbach, Co-host, Market Hang, and Co-founder, The Wall Street Skinny
Kristen Kelly, Co-host, Market Hang, and Co-founder, The Wall Street Skinny
Barbara Doran, CEO and CIO, BD8 Capital Partners
Nancy Tengler, CEO and CIO, Laffer Tengler Investments
Kenny Polcari, Partner and Chief Market Strategist, SlateStone Wealth
Timestamps
0:00 Welcome back, and Meta's quarter in brief
1:10 A record wide in Meta's credit default swaps
2:16 Why a third share class, and what it funds
3:23 The stapling that limits what he can sell
4:33 Wall Street is agnostic about share classes
5:44 Has anyone on this panel actually used Muse?
7:21 Did Lam Research disappoint, or did the market?
8:37 The retention question nobody has answered
9:59 A week with the glasses, and the blinking light
11:02 Twenty five percent daily, and a path to a billion
12:07 Red flag or green fla
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